Kiyou wa Hina Matsuri (Doll Festival), or Girls' Day. It is always on March 3rd (3/3). (FYI Boys' Day is 5/5 and Tanabata is 7/7, but more on those later.) So, really, only families with daughters celebrate Hina Matsuri but there is evidence of it at grocery stores, conbeni, and the nursery schools I sometimes visit. Families (or schools) that celebrate display Hina dolls on a stepped shelf. The dolls can be pretty expensive so many families may only have the top shelf whereas the schools have the whole shebang (7 tiers). The dolls are set up a few weeks prior to the holiday to wish for good health, growth, and luck for the girls of the family/establishment and then are promptly taken down on March 4th or else the daughters will never marry.

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The dolls are modeled after the fashions of the Heian period (794-1185 "
considered the peak of the Japanese imperial court and noted for its art, especially poetry and literature." according to Wikipedia) and each one has a specific place on the display and is always in the same position, has the same facial expression, and/or is carrying the same props. The top shelf is reserved for the Emperor and Empress, the next shelf is occupied by 3 ladies-in-waiting, then comes 5 musicians (all male), then 3 male escorts (not that kind of escort-- they are sometimes referred to as ministers (of gov. not religion)), and then 3 guards. Accompanying the royal court are 2 silk lamps, a golden folding screen, a peach tree, a clementine tree, assorted furniture and little tables/stands that hold actual diamond-shaped mochi (specially made for Hina Matsuri that white, pink and green), sweets and a special, slightly sweet, white sake called amezake (that I tried last year and didn't like).

For more information check out Wikipedia or About.com